Posts Tagged ‘condo investing’

Condos – Nightmare Investment or Dream Deal?

Posted February 8, 2009 by Bernz

Condominiums have the potential to be great investment properties. But if you’re not careful, they can turn into an unexpected nightmare. Make sure you do your homework upfront to turn your condo purchase into your dream deal.

Here’s the good news. Many condominiums are at the low end of the neighborhood’s pricing scale. This means your purchase price will be low. It also means that more people can afford them, so there will always be a ready supply of buyers.

This may be a good situation if you’re planning on fixing up the distressed condo and selling it for a profit. But if you’re planning on holding it as a rental, be sure to ask questions and read all the documents before you sign the final papers. Here are some things to watch out for.

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